The One-in-Seven Economy
Last night, 60 Minutes put a question to prime-time America: will AI take your job? The number underneath the segment came from the McKinsey Global Institute, whose report “Workforce in Motion,” released last week,…
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Private Credit Hits $2.1 Trillion as IPO Market Roars Back
April 2026 finds the financial system in a state of cautious optimism. The Federal Reserve is holding rates steady while monitoring inflation, private credit has exploded to $2.1 trillion and become a primary funding…
Understanding Ray Dalio’s Debt Cycle Theory
Ray Dalio stands as one of the most successful hedge fund managers in history, but perhaps more importantly for our purposes, he has spent decades developing a framework for understanding how economies actually work…
The $100 Startup Summary (7/10)
Thanks to the internet, it is now possible to build a micro-business. You can either consult, build software, or create educational material through books or online courses for very little money. The other big…
Chapter 3: Creative Destruction: The Economics of Accelerating Technology and Disappearing Jobs (Race Against the Machine)
Robert Solow earned his Nobel Prize for showing that economic growth does not come from people working harder but rather from working smarter. That means using new technologies and new techniques of production to…
The Price of the Future
Last Thursday, the yield on the 30-year US Treasury bond broke above 5.5 percent for the first time since June 2004, and touched 5.53 percent on Friday. It was below 5 percent as recently as early July. The 10-year…
The Lose-Lose Hike
Last Wednesday, the Federal Reserve raised interest rates for the first time since July 2023 — a quarter point, to a range of 3.75 to 4 percent. The vote was unanimous, and that includes the man who led it. Kevin…
The AI Boom Is Borrowing Its Way Toward a Minsky Moment
For two years, the artificial intelligence boom was a story about the stock market — soaring valuations, “Magnificent Seven” earnings, the race for GPUs. Two weeks ago, this newsletter read the August equity shakeout…
The Predictive Power of US Treasuries on Stock Market Movements
Financial markets often rely on signals to predict future movements, and one popular indicator has historically been US Treasury yields.
Trump’s Tariffs: Great or Terrible for US Markets?
Trump’s tariffs have ignited a heated debate. Are they a smart move to safeguard American industries and jobs, or a dangerous bet that could harm the very markets they aim to protect? The reality isn’t…
The Allure of Investing in Gold
In August 2025, gold glitters near $3,350 per ounce, a fresh all-time high after climbing over 30% this year alone.
The Hidden Architects of Global Power: A Reflection on The World for Sale
Commodity trading is the invisible engine of global commerce, operating silently beneath the surface of the everyday transactions that define our lives. In The World for Sale: Money, Power and the Traders Who Barter…